Municipal Finance Management Act, 2003 (Act No. 56 of 2003)
Chapter 4 : Municipal Budgets
16. Annual budgets
|1)||The council of a municipality must for each financial year approve an annual budget for the municipality before the start of that financial year.|
|2)||In order for a municipality to comply with subsection (1), the mayor of the municipality must table the annual budget at a council meeting at least 90 days before the start of the budget year.|
|3)||Subsection (1) does not preclude the appropriation of money for capital expenditure for a period not exceeding three financial years, provided a separate appropriation is made for each of those financial years.|
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